IB ECONOMICS (HL): Paper 3 (Quantitative), Tips to score better

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This is my list of tips that should definitely help maximise your marks.

They look so obvious that you would be wondering why I took the trouble to post this ..yet it is amazing that so many of you keep on repeating the same mistakes again and again.

Paper 3, with its calculations and formulae (that you just need to memorise) is an excellent paper to score well on. Please take heed.

 

HL ECONOMICS- PAPER 3 TIPS

ESSENTIAL

  • ANNOTATE the question to ensure that you do not misinterpret it
  • Have an awareness of TIME limitation as you answer

GRAPHS

  • Label the AXIS of graphs to show units
  • ANNOTATE graphs in detail- especially the supply /demand curves
  • Mark graphs to show WELFARE LOSS, DEADWEIGHT LOSS, POTENTIAL SURPLUS

CALCULATIONS

  • Show CALCULATIONS with step by step workings
  • Do not ROUND during calculations
  • Answers must be shown to 2 Decimal places
  • When calculating, avoid the ZERO’s to avoid careless mistakes, but do  remember to replace them the writing the final answer
  • Always state UNITS in the answer do NOT write “millions or thousands”
  • RECHECK your calculations for arithmetic error

NARRATIVE RESPONSE

  • Avoid terms like CHANGE; refer to INCREASE or DECREASE
  • State DEFINITIONS clearly
  • SPLIT responses onto SEPARATE lines to ensure you score the marks
  • Write SUCCINCT answers; make more points then focussing on writing style
  • Use the WORDS of the QUESTION in your answer to ensure you remain focussed
  • Use KEY/ TECHNICAL terminology
  • Refer to SHIFT/ MOVEMENT ALONG and mention LEFT OR RIGHT when describing supply and demand graphs
  • Ensure you WRITE ADEQUATELY to satisfy a 4 mark questions
  • RESPOND to the question; give 2 REASONS if asked for 2